CoinVoice has recently learned that the Philippine Securities and Exchange Commission (SEC) has introduced comprehensive regulations for the management of crypto assets, covering disclosure, public offerings, trading, and marketing activities. These regulations aim to enhance investor protection and promote transparency in the burgeoning digital asset market.
According to the new guidelines, crypto asset issuances must submit disclosure documents to the SEC at least 30 days before any marketing activities or public sales. This document must detail the provider of the crypto asset, the issuer, key features, risks, and underlying technology, as well as clearly state potential risks, including value loss and limited transferability.
Crypto assets classified as securities must obtain an SEC-approved registration statement before public issuance. Entities issuing or trading crypto assets must comply with anti-money laundering (AML) laws and SEC reporting requirements. It is emphasized that non-compliance may result in fines, suspension, or revocation of licenses. (Crowdfund Insider) [Original link]